Cost of Living in Myrtle Beach, SC

Cost of Living in Myrtle Beach, SC: A Detailed Overview

Among cities in the Southern United States, Myrtle Beach, SC occupies a noteworthy position on the cost-of-living spectrum. At an index of 93.5, the city sits below the national average, meaning day-to-day expenses run approximately 6.5 percent less than what the typical U.S. household faces. Myrtle Beach is a small community with roughly 35,682 people, and its regional setting shapes everything from housing supply to grocery pricing. Median household income in the area is $38,445 — $36,135 below the national figure of $74,580. Lower price levels help offset the income gap, enabling households to cover essential costs and still set aside money for longer-term goals.

What Makes Myrtle Beach, SC Unique

Myrtle Beach is the economic anchor of the Grand Strand, a 60-mile stretch of Atlantic coastline that attracts over 20 million visitors annually. Tourism, hospitality, and golf drive the economy, with over 80 golf courses in the area. Coastal Carolina University in nearby Conway provides educational and research support to the growing metro.

The Broadway at the Beach entertainment complex, Barefoot Landing, and the revitalized boardwalk along Ocean Boulevard offer dining and nightlife, while the Market Common, a mixed-use development on the former Myrtle Beach Air Force Base, provides upscale shopping and restaurants in a walkable setting away from the tourist corridor.

Myrtle Beach's year-round population has grown significantly as retirees and remote workers discover its affordability relative to other coastal cities. The International Drive extension and continued hotel and condo development along the northern Grand Strand reflect sustained demand, while the city grapples with infrastructure and stormwater management challenges from rapid growth.

Housing Costs in Myrtle Beach, SC

For renters, Myrtle Beach's housing market centers on a median monthly rent of $1,100, which lands $272 below the national median of $1,372. One-bedroom apartments typically run $950 per month, while two-bedroom units average $1,250. Those rates make the rental market here considerably friendlier than what tenants face in most American cities, freeing up income for savings and lifestyle spending. Shelter costs account for roughly 32 percent of the average household's total spending, confirming housing's role as the dominant budget line item. The rent-to-income ratio in Myrtle Beach stands at 34.3 percent — above the 30 percent threshold most planners cite as a healthy maximum, which means some households will feel squeezed unless they can negotiate lower rents or boost income.

Monthly Expenses and Budget Breakdown in Myrtle Beach, SC

How does Myrtle Beach's monthly spending stack up against the national average? The all-in figure is approximately $3,485, while the national baseline sits at roughly $4,357. The savings of roughly $872 per month translate to approximately $10,464 annually. The two heaviest categories are housing ($1,100/month) and childcare ($850/month). Grocery costs of $345 monthly come in below the national average. Utilities average $150, transportation $110, and healthcare $420. Entertainment runs $130, and childcare costs $850 for households that need daycare or after-school care.

How Myrtle Beach, SC Compares to the National Average

When comparing Myrtle Beach to national norms, the overall cost of living index of 93.5 is the starting point, but individual categories reveal where the real differences lie. housing costs $1,100 per month — the largest single category — while childcare adds $850. Grocery costs come in below the national average, contributing to overall affordability. Healthcare at $420 is at or below the national average of $450. The combined effect: total monthly costs of $3,485 versus $4,357 nationally, a difference of roughly $872 per month that accumulates into meaningful savings over months and years.

Living in Myrtle Beach, SC: Different Lifestyles

Retirees: Myrtle Beach earns its reputation as a retirement-friendly destination. While the tax picture in South Carolina requires some planning, the overall cost structure and local amenities create a solid foundation for a comfortable retirement. Coastal access adds appeal — waterfront walks, fishing, and the proven mental-health benefits of living near the ocean enhance daily life. Monthly healthcare costs of $420 and housing at 32 percent of the budget let retirees plan with confidence.

Families: In Myrtle Beach, childcare averages $850 per month — below the national average, easing the financial load for dual-income households with young children. A family earning the local median of $38,445 will need to budget deliberately to balance housing, childcare, and savings goals.

Young professionals and singles: A one-bedroom rent of $950 is the key figure for solo earners. Below the national one-bedroom median of $1,190, this gives singles financial flexibility for saving, investing, or enjoying the local social scene. Entertainment spending averages $130 per month, covering dining, fitness, and cultural activities.

Is Myrtle Beach, SC Right for You?

The data on Myrtle Beach, SC adds up to a clear financial profile: median rent at $1,100, median home prices at $280,000, and total estimated monthly expenses around $3,485. The below-average cost of living creates room for savings, debt reduction, and a comfortable day-to-day experience on a moderate income. Use our comparison calculator to see how Myrtle Beach stacks up against your current city or other locations you are evaluating, then consider a visit to experience neighborhoods, commute patterns, and the local atmosphere firsthand. The best relocation decisions combine solid data with personal priorities and on-the-ground exploration.